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The designation is a blow for the country as economic competition accelerates with Gulf neighbour Saudi Arabia, the world's top oil exporter and biggest Arab economy.

Saudi arabiaUnited arab emiratesFrance generalUnited statesKatherine bauerOffice for antiWashington institute for near eastFinancial action task forceMiddle eastWashington instituteNear east policyExecutive officeAnti money launderingCounter terrorism financingFinancial crime watchdogFatf grey list